LSI Industries Inc.
LYTS Technology Electronic Components
LSI Industries Inc.’s revenue for fiscal 2026 (year ended June 2026) was $689.4 million, up 20.2% from fiscal 2025. In the quarter to June 2026, revenue grew 51.3%, EPS fell 29.6%, free cash flow grew 14.7% and total debt rose 427.1%, each against the same quarter a year earlier. Dividend growth for ten consecutive years; insiders bought in the last twelve months.
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LSI Industries Inc. (LYTS) Altman Z-score
LSI Industries Inc.'s Altman Z-score for fiscal 2026 is 2.45, in the grey zone (1.81–2.99).
Altman Z-score, annual
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Annual newest first
| Period | Altman Z-score | Change (points) |
|---|---|---|
| FY2026 | 2.45 | (1.66) |
| FY2025 | 4.11 | 0.21 |
| FY2024 | 3.91 | (0.40) |
| FY2023 | 4.31 | 1.65 |
| FY2022 | 2.66 | 0.42 |
| FY2021 | 2.24 | (2.32) |
| FY2020 | 4.56 | 2.16 |
| FY2019 | 2.40 | (0.15) |
| FY2018 | 2.54 | (0.73) |
| FY2017 | 3.27 | (3.60) |
How fiscal 2026’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Working capital / total assets | 0.18 | — | 0.21 | |
| Retained earnings / total assets | 0.10 | — | 0.14 | |
| EBIT / total assets | 0.05 | — | 0.15 | |
| Market value of equity / total liabilities | 1.86 | — | 1.12 | |
| Sales / total assets | 0.83 | — | 0.83 | |
| Altman Z-score | Grey zone | 2.45 | ||
| Z″ Variant for non-manufacturing and asset-light companies (drops the sales/assets term, uses book equity) | Grey zone | 2.60 | ||
How the Altman Z-score works
Z = 1.2 × working capital ÷ total assets + 1.4 × retained earnings ÷ total assets + 3.3 × EBIT ÷ total assets + 0.6 × market value of equity ÷ total liabilities + 1.0 × revenue ÷ total assets (Altman, 1968). The market value of equity is the close on the last trading day of the fiscal year times weighted basic shares.
Z″ = 6.56 × working capital ÷ total assets + 3.26 × retained earnings ÷ total assets + 6.72 × EBIT ÷ total assets + 1.05 × book equity ÷ total liabilities (Altman, Hartzell and Peck, 1995), the variant for non-manufacturing and asset-light companies.
| Zone | Z | Z″ |
|---|---|---|
| Safe zone | above 2.99 | above 2.60 |
| Grey zone | 1.81–2.99 | 1.10–2.60 |
| Distress zone | below 1.81 | below 1.10 |
Not worked out for banks, insurers and REITs, whose balance sheets the model does not describe, nor when a figure is missing or there is no share price in the week to the fiscal year end.
Altman Z-score against peers
| Company | Altman Z-score |
|---|---|
| MPTI M-tron Industries, Inc. compare | 20.4× |
| LPTH LightPath Technologies, Inc. compare | 10.6× |
| RELL Richardson Electronics, Ltd. compare | 6.5× |
| CTS CTS Corporation compare | 6.2× |
| DAKT Daktronics, Inc. compare | 5.1× |
| ALNT Allient Inc. compare | 4.0× |
| LYTS LSI Industries Inc. | 2.5× |
| KOPN Kopin Corporation compare | 2.1× |
| MEI Methode Electronics, Inc. compare | 1.9× |
What Altman Z-score is
The Altman Z-Score weighs working capital, retained earnings, operating profit, market value and sales against assets and debts to gauge the risk of distress.
1.2 × working capital ÷ total assets + 1.4 × retained earnings ÷ total assets + 3.3 × EBIT ÷ total assets + 0.6 × market value of equity ÷ total liabilities + 1.0 × revenue ÷ total assets